Australia still generates two-thirds of its electricity from coal, and the boom in coal prices of course has made a material difference to the price of electricity as a result. The retiring of ageing coal plants and replacement with intermittent renewable energy has meant that there have been significant reductions in supply given wet weather has diminished solar generation.
Global supply chain chokes on oil, gas and indeed coal caused by the war in Ukraine have also driven the prices of other forms of generation up.
The overarching trend is the transition from baseload coal and gas generation to a grid consisting mostly of intermittent renewable energy. This transition is going to continue to be bumpy and slow, and there will be disruption. High prices and volatility are here to stay for a while.
What can you do to help your bodies corporate? Plenty.
Invest in energy saving projects such as communal solar, led lighting, power factor correction and exhaust control fans can help minimise use.
Energy strategies such as group buys, long term options and embedded networks.
Monetising existing assets such as standby generators or existing solar if possible.
Bodies corporate with embedded networks are well protected particularly if they have a long term contract in place.
For more information contact our sponsor HumEnergy: https://www.humenergy.com.au/